GSA Capital Partners LLP Sells 581,220 Shares of Digital Turbine, Inc. (NASDAQ:APPS)

Key Points

• GSA Capital Partners LLP significantly reduced its stake in Digital Turbine, Inc. by 62.3%, selling over 581,000 shares and retaining about 351,904 shares valued at approximately $955,000.
• Digital Turbine reported $0.10 earnings per share for the last quarter, exceeding analyst expectations of $0.05, with total revenues of $119.15 million.
• Analysts have recently upgraded Digital Turbine's stock rating from "hold" to "buy", with new price targets increased to as high as $7.00.

GSA Capital Partners LLP decreased its holdings in Digital Turbine, Inc. (NASDAQ:APPS - Free Report) by 62.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 351,904 shares of the software maker's stock after selling 581,220 shares during the quarter. GSA Capital Partners LLP owned 0.34% of Digital Turbine worth $955,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in APPS. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Digital Turbine in the fourth quarter worth $490,000. P.A.W. Capital Corp grew its stake in shares of Digital Turbine by 175.0% during the 1st quarter. P.A.W. Capital Corp now owns 550,000 shares of the software maker's stock valued at $1,493,000 after purchasing an additional 350,000 shares during the period. Bank of America Corp DE increased its position in shares of Digital Turbine by 55.6% during the 4th quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker's stock valued at $3,427,000 after purchasing an additional 724,297 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Digital Turbine by 39.7% in the 4th quarter. JPMorgan Chase & Co. now owns 541,825 shares of the software maker's stock worth $916,000 after purchasing an additional 153,991 shares during the period. Finally, AIGH Capital Management LLC purchased a new position in shares of Digital Turbine in the first quarter worth approximately $1,170,000. Hedge funds and other institutional investors own 63.66% of the company's stock.

Digital Turbine Price Performance

Shares of APPS traded up $0.57 during trading hours on Monday, reaching $5.69. 3,904,625 shares of the stock traded hands, compared to its average volume of 5,897,402. The company has a market cap of $613.75 million, a P/E ratio of -6.40 and a beta of 2.57. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.66. The company's 50-day moving average price is $5.35 and its two-hundred day moving average price is $4.12. Digital Turbine, Inc. has a 52-week low of $1.18 and a 52-week high of $7.77.

Digital Turbine (NASDAQ:APPS - Get Free Report) last posted its quarterly earnings results on Monday, June 16th. The software maker reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.05. The business had revenue of $119.15 million for the quarter, compared to analysts' expectations of $116.64 million. Digital Turbine had a positive return on equity of 1.89% and a negative net margin of 18.61%. During the same period last year, the firm earned $0.12 earnings per share. On average, analysts anticipate that Digital Turbine, Inc. will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on APPS shares. Craig Hallum increased their price target on shares of Digital Turbine from $4.00 to $7.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Wall Street Zen raised Digital Turbine from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st.

Digital Turbine Profile

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.